EghtesadOnline: The long-running debate over halting the production of Pride, a poor-quality small city car produced by Iranian automaker SAIPA, has reportedly been concluded with a clear and close deadline.
EghtesadOnline: Iran's Defense Ministry has signed a deal with local car manufacturing company SAIPA to curb the auto sector's reliance on foreign parts.
EghtesadOnline: Local carmakers Iran Khodro and SAIPA, are deep in the red owing part makers 230 trillion rials ($1.9 billion) one official with Tehran Chamber of Commerce says.
EghtesadOnline: Iran’s SAIPA and South African car manufacturer Mureza are to jointly produce vehicles in Zimbabwe.
EghtesadOnline: Iranian carmaker SAIPA needs to import auto parts worth €1,400 for making each unit of Pride, a €3,150 vehicle that the company has been manufacturing for the past three decades.
EghtesadOnline: The long-running debate over halting the production of SAIPA’s small car Pride has reignited, after Iran Traffic Police chief said license plates will not be issued for the vehicle as of March 2020.
EghtesadOnline: Parts manufacturer SAPCO, affiliated to Iranian carmaker SAIPA, has signed agreements worth 4.2 trillion rials ($37 million) with Ferdowsi University of Mashhad and several industrial units based in Khorasan Razavi Province.
EghtesadOnline: By October 2018, the accumulated debts of Iranian carmakers, Iran Khodro (IKCO) and SAIPA, had reached 1 quadrillion rials ($8.8 billion), the industries minister said in a recent interview.
EghtesadOnline: Over the past 11 years, 34% of those who lost their lives in road accidents in Iran, constituting 70,056 victims, died in SAIPA’s small city car, Pride.
EghtesadOnline: Insurance companies have stopped offering third party vehicle insurance to new vehicles produced by SAIPA, Iran's second-largest automaker, due to the carmaker’s pattern of failure to settle its mountain of debts.